Sweden's ICA Gruppen Sees Sales Rise 3.4% In June

Swedish retailer ICA Gruppen saw its sales rise by 3.4% in June, according to an update posted by the retailer recently. Like-for-like sales were up 2.6%.

In the month of June, sales across the Swedish ICA stores totalled SEK 10.09 billion (€1.05 billion) excluding VAT, which is an increase of 3.4% on the same month in the previous year.

In the period from January to June, sales were SEK 55.95 billion (€5.82 billion), which is 2.6% higher than the same period last year.

ICA Gruppen said that it estimates the calendar effect for June to be +1.4%.

As of 30 June 2017, the number of ICA stores in Sweden was 1,291.

Sequential Deceleration

Commenting on the figures, Barclays European Food Retail Equity Research said, "ICA reported its June sales, showing a sequential deceleration at all banners after taking into account the positive calendar impact.